Frontline's half-year profit drops to $110.83m amid lower freight rates

Frontline plc reported a profit of $110.83 million for the six months ended June 30, 2025, a decrease from $368.39 million in the same period of 2024. Total revenues and other operating income also fell to $908.035 million from $1,228.652 million. This decline was primarily driven by lower market freight rates and the sale of five VLCCs and three Suezmax tankers since January 1, 2024, partially offset by the acquisition of 13 VLCCs.

The company's fleet consisted of 81 owned vessels as of June 30, 2025. Dividends of $0.20 per share (Q4 2024) and $0.18 per share (Q1 2025) were paid, with a further $0.36 per share declared for Q2 2025, payable around September 24, 2025.

Frontline is also defending against proceedings by FourWorld Capital Management LLC, related to claims concerning the former Euronav NV strategic deadlock and CMB.TECH NV acquisition, with oral court pleadings scheduled for February 2026.